Axel Technologies secures additional funding, takes new Executive Chairman on board and invites former co-founder back in the seat as CEO.

TURKU, May 2, 2016 (BUSINESS WIRE) – Axel Technologies, an industry leading end to end OTT IPTV Platform Provider, today announced that it has secured additional funding from its main investor Nexit and others, attracted Senior Executive Michael Koehn Milland as Executive Chairman of the Board and reshaped by re-instating original co-founder and CEO, Petri Kalske, as its CEO.

Co founder and original CEO, Petri Kalske, is back in the seat as CEO. Petri Kalske: “Axel Technologies has worked hard over the last years to harden the core of its platform, while continuously winning marquees customers. I am determined to be the most flexible, innovative and customer-oriented provider in the market, and I am very excited with how our platform, Fuugo, resonates in the market. Also it is a clear strength to have been able to attract Michael Koehn Milland, as he will bring additional connections in the industry, knowledge about global markets and experience in growing a company fast.”

Michael Koehn Milland, who most recently ran Octoshape, a streaming media innovator, that April last year was acquired by Akamai, brings vast experience and contacts to the table. Koehn Milland: “I am excited to join Axel as the Executive Chairman. Axel is riding the wave of the rapidly growing subscriber base for OTT content as cable and satellite companies are making the migration to OTT. Axel’s value proposition hits a sweet-spot with these large Broadcasters as well as with new entrants, the owners of valuable video-content, which business models assume content being distributed over the Internet to any device”. Koehn Milland will assist the company in especially its growth outside of its present footprint, and in particular in the US and Latam.

Long term investor, the leading Finnish VC Nexit, continues to be the main investor in Axel Technologies. Artturi Tarjanne, General Partner at Nexit states “We, at Nexit, are very excited about the opportunities for Axel and its operational experience in delivering to both small and large broadcasters and video content owners. We see the market as growing exponentially and the need for an agile and flexible partner, like Axel, becoming even greater. We are equally excited to sponsor international success from a Scandinavian company.”

Axel Technologies is a team of TV and Video software innovators with a very strong background on mobile content applications and mobile user experience. Today the company powers leading global OTT Multi Screen consumer applications, and has expanded into backend system services (Customer management, Content Management, Payment systems, Reporting), making it a true end to end OTT IPTV Platform.